It’s a Luxury Item, It’s an Investment—Wait, It’s Both!Sarah Quinlan |
The U.S. Commerce Department yesterday announced October retail sales numbers, and they mirror what MasterCard Advisors released to its SpendingPulse™ subscribers Nov. 6. The U.S. consumer took their savings from cheaper gasoline prices and put it back into the economy, particularly by dining out. Jewelry was their second preference, as the trend towards small investments in jewelry remained intact. This was at the expense of apparel as people prefer to accessorize rather than buy new clothes.